SEDA has unveiled the Interoperability Verification Module (IVM) framework to set an industry standard for cross-chain transaction routes.
Announcement of SEDA's IVM
Today, SEDA announced the first-of-its-kind Interoperability Verification Module (IVM) framework. SEDA IVMs are designed to enhance security, achieve instant horizontal scaling, and increase decentralization for interoperability protocols. The framework allows for independent, permissionless verification of any cross-chain transaction, aiming to expand the number of active networks from 347 to an estimated 2,000+ by 2026.
Key Features and Benefits
The IVM framework leverages a multi-layer verification process comprising an independent overlay network, decentralized solvers, and a mix of private and public RPC data providers. Key features include industry-wide data parity, built-in liveness guarantees, and a programmable design for specific needs of bridge, solver, and abstraction layers.
Addressing Industry Challenges
The SEDA IVM directly addresses industry challenges, such as the recent Stargate bridge downtime. By utilizing SEDA’s distributed verification architecture, interoperability providers gain security and liveness guarantees that reduce the risks of collusion and downtime.
The SEDA IVM framework offers specialized verification for all cross-chain routes, fostering industry growth and ensuring independent transaction verification and security.
